Agenda Packet_2026-04-07 - Laserfiche WebLink

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days of said cancellation or termination. City shall pay D istrict a fee of $1000.00 for processing the reinstatement of the Lease. City shall provide to D istrict immediate notice of said insurance cancellation or termination. All contractors performing work on behalf of City pursuant to this Lease shall obtain insurance subject to the same terms and conditions as set forth herein for City. City shall not allow contractors or subcontractors to work if contractors have less than the level of coverage required by the D istrict from the City under this Lease. It is the obligation of the City to provide written notice of the insurance requirements to every contractor and to receive proof of insurance prior to allowing any contractor to begin work within the Premises. Such proof of insurance must be maintained by City through the entirety of this Lease and be available for inspection by a D istrict representative at any reasonable time. All self-insured retentions (SIRs) shall be clearly stated on the Certificate of Insurance. Any self- insured retention (SIR) in an amount in excess of Fifty Thousand Dollars ($50,000) shall specifically be approved by the District. The District reserves the right to require current audited financial reports from City. If City is self-insured, City will indemnify and defend District for any and all claims resulting or arising from City Premises or performance in accordance with the indemnity provision stated in this Lease. Qualified Insurer The policy or policies of insurance must be issued by an insurer with a minimum rating of A- (Secure A.M. Best's Rating) and VIII (Financial Size Category as determined by the most current edition of the Best's Key Rating Guide/Property-Casualty/United States or ambest.com). It is preferred, but not mandatory, that the insurer be licensed to do business in the state of California (California Admitted Carrier). The policy or policies of insurance must be issued by an insurer with a minimum rating of A- (Secure A.M. Best's Rating) and VIII (Financial Size Category as determined by the most current edition of the Best's Key Rating Guide/Property-Casualty/United States or ambest.com). If the insurance carrier does not have an A.M. Best Rating of A-/VIII, the CEO/Office of Risk Management retains the right to approve or reject a carrier after a review of the company's performance and financial ratings. The policy or policies of insurance maintained by the City shall provide the minimum limits and coverage as set forth below: Coverages Minimum Limits Commercial General Liability $5,000,000 per occurrence $5,000,000 aggregate Automobile Liability including coverage $1,000,000 combined single limit each for owned, non-owned and hired vehicles accident 3/2/2026 Page 13 of 41 Lease Number Agency/Program Standard Revenue Lease Form